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Toronto, July 27 (Canadian-Media): Ontario’s partnership with Legend 3D, Inc. to help grow the company's major Canadian studio that creates visual effects for film, television and digital media productions, would create 271 new jobs, doubling the current workforce and retaining 280 positions in Toronto, a news release said this week.
These 551 jobs, continued the release, will focus on post production, 2D to 3D conversion, and research and development.
A global leader in visual effects for movies, television and the virtual reality sector, Legend 3D has clients such as Sony Pictures, Marvel Studios, Warner Bros., Paramount Pictures and Walt Disney Studios and includes projects such as Hollywood blockbusters like Ghostbusters, Fantastic Beasts and Where to Find Them, Doctor Strange, The Amazing Spider-Man and Pirates of the Caribbean: Dead Men Tell No Tales.
“Ontario’s digital media sector is growing rapidly and leading edge companies like Legend 3D are at the forefront of the creative economy in the province. This partnership and the jobs it will create will help maintain our position as the top jurisdiction for film and television production in the country,” Eleanor McMahon, Minister of Tourism, Culture and Sport, the release said.
Ontario is investing up to $3.1 million through the Jobs and Prosperity Fund -- -that funds Businesses, business associations and entrepreneurs for projects to enhance productivity and help them compete in the global marketplace -- for this project, supporting an additional investment of more than $27 million from Legend 3D, for a total project value of approximately $31 million.
“Our government is thrilled to support Legend 3D’s expansion plans in Ontario. This is a testament to the impressive talent, dynamic business climate and vibrant innovation ecosystem in this province. We are committed to strategic partnerships like this one, which will ensure our robust digital media sector remains globally competitive,” Brad Duguid, Minister of Economic Development and Growth, the release said.
Legend 3D: Facebook
The Jobs and Prosperity Fund helps secure private sector investment in Ontario in its partnership with businesses to create jobs and increase productivity, innovation and exports.
Every dollar invested through the fund results in an average of $9 in private sector investments, said the release.
Since January 2013, Ontario had announced 22 projects with government commitment totaling approximately $600 million which could get more than $4 billion in total eligible investment.
Jobs and Prosperity Fund projects are responsible for creating and retaining more than 35,000 jobs in Ontario at companies such as Thales Canada in Toronto, Mitsui Hi-Tec Inc. in Brantford, Sandvine Incorporated in Waterloo, Huawei Canada in Ottawa, Markham and Waterloo, Superpufft in Mississauga, A. Lassonde Inc. in Toronto, Toyota in Cambridge and Woodstock, Linamar in Guelph and Polycorp in Elora.
“We are pleased to be collaborating with the Ontario government as we continue to grow our international operations. Ontario was a natural choice to continue our expansion due to the top talent, world-class infrastructure and the cutting-edge digital media, film and television sectors located here,” Aidan Foley, CEO, Legend 3D, Inc.
Support from Ontario's Jobs and Prosperity Fund will boost Legend 3D's competitiveness and global growth expansion initiatives, hiring and training employees, and research and development and upgrading of equipment and facilities.
(Reporting by Asha Bajaj)